Denver-area office tower sells at major discount
December 31, 2024
By Justyna Tomtas, Denver Business Journal
A Louisville-based company has purchased a 12-story office building for less than half of the
building’s sale price five years ago.
Real Capital Solutions bought the Belleview Tower, at 7887 E. Belleview Ave., for $20 million, a
news release announcing the sale said. The building last traded hands in 2019 for $40.1 million,
records filed with the City and County of Denver show.
“Belleview Tower represents an exceptional opportunity to acquire a premier office property in
a high-demand location at a fraction of its previous valuation,” said Marcel Arsenault, the
chairman, CEO and founder of RCS, in a news release. “Adding value in this dynamic market
requires a strong and experienced team with the capital to address evolving tenant
expectations. We have both.”
The 201,670-square-foot office building in the Denver Tech Center has immediate access to
Belleview Avenue and Interstate 25. It recently underwent renovations to the lobby, corridors
and on-site amenities, the release said.
RCS plans to further upgrade the property’s amenity package through enhancements to the
fitness center and common areas, the release stated.
Charley Will with CBRE was the broker for the transaction. The property is currently 75% leased.
“This asset is uniquely poised to attract tenants seeking quality office spaces in today’s
competitive market,” said Adam Abeln, chief investment officer of RCS, in the announcement.
“Our planned spec suite program will address growing demand for ready-to-occupy spaces
while ensuring the property remains competitive in attracting and retaining high-quality
tenants.”
The acquisition marks the third for the company in Denver this year. The firm added
Metropoint I and II to its portfolio through a joint venture with Koelbel and Company. It also
purchased a multi-tenant office building in Englewood at 116 Inverness Drive East.
“RCS’s recent acquisition momentum stems from its nationwide investment strategy,
capitalizing on exceptional opportunities to secure distressed loans and real estate at
substantial discounts,” the release said. “The company anticipates these real estate
macroenvironment conditions will persist through 2027.”
RCS expects to acquire as much as $1 billion of distressed office loans and real estate across the
nation in 2025, the company said. It has purchased and managed more than 395 real estate
assets, totaling approximately $5.1 billion in acquisition value.
RCS currently owns 80 properties with over $2.4 billion of assets under its management.
The company recently purchased a building in Washington, D.C. for $29.3 million. RCS also
broke into the Dallas real estate market with the purchase of an office building, known as the
Tower at Park Lane, for $66 million, another release from the company stated.
